Some 15 years after acquiring Accord Networks and founding Polycom Israel, the leading video conferencing company will shutter its operations in Israel. The company, which purchased Accord in a share deal worth $339 million, announced Monday morning to its 200 workers that its offices in Israel will be closed and the employees' jobs terminated.
The company has also outsourced another 80 positions, which are also expected to be terminated. Polycom said the move was necessitated by the high manufacturing costs in Israel, and the operations will likely be outsourced to India. To that end, an Indian delegation is expected to arrive in Israel for several weeks to familiarize themselves with the operations.
The employees will be called in for pre-termination hearings on Tuesday, where they will receive their actual termination date, with 30 days being the minimum notice required by law. Some of the workers attempted to oppose the move by unionizing.
Polycom is considered a market leader in video conferencing, with its client list including Microsoft, IBM and AT&T.
The company did not respond to requests for comment.
Published by Globes [online], Israel business news - www.globes-online.com - on November 24, 2015
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